Testimony: Held for Ransom: How Ransomware Endangers Our Financial System
Megan Stifel
SUMMARY
On April 16, 2024, Chief Strategy Officer Megan Stifel testified before the House Committee on Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions for a hearing entitled, “Held for Ransom: How Ransomware Endangers Our Financial System.”
In her testimony, she focuses on three ways to reduce the risk and impacts of ransomware on the financial services sector.
- Financial sector resilience is essential to maintaining our role as the world’s financial leader.
- We must ensure that the federal, state, and local government entities that underpin our role as the world’s financial leader have adequate resources to investigate abuse of our services.
- The financial services sector has tremendous reach and can play an even greater role in helping raise our collective defenses.